Simple Tips for a Simple Living

What are the credit cards prepaid used for?

If we want to be able to enjoy the benefits of a bank account but do not have a regular income or want to impose a limit on these transactions, we can use the so-called pre-paid cards. One use and a perfect example of this type is a gift card to our child thank to which it can pay and spend some money.

Don Hankins / photo on flickr

It will be able to use the card just like an adult, so get the option of paying by card, use ATMs or make purchases over the internet and at the same time will not be burdened with the responsibility and obligations as the holder of a bank account. Prepaid cards are available in two versions: with and without the possibility to charge it.

The first ones are more like gift cards and the use of them will no longer be useful. Rechargeable cards, in turn, receive a sort of sub-accounts that can be powered using cash transfers, deposits in bank branches, etc. This makes the possession of such a card is very similar to his own account, and the owner may be even a minor . Pre-paid cards are offered by many different banks in different conditions. This happens, for example, that they are somehow addition to bank account, which makes it really great option for parents in the aforementioned example.

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